Correlation Between Russell Investments and High Liner
Can any of the company-specific risk be diversified away by investing in both Russell Investments and High Liner at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Russell Investments and High Liner into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Russell Investments Global and High Liner Foods, you can compare the effects of market volatilities on Russell Investments and High Liner and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Russell Investments with a short position of High Liner. Check out your portfolio center. Please also check ongoing floating volatility patterns of Russell Investments and High Liner.
Diversification Opportunities for Russell Investments and High Liner
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Russell and High is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Russell Investments Global and High Liner Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on High Liner Foods and Russell Investments is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Russell Investments Global are associated (or correlated) with High Liner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of High Liner Foods has no effect on the direction of Russell Investments i.e., Russell Investments and High Liner go up and down completely randomly.
Pair Corralation between Russell Investments and High Liner
Assuming the 90 days trading horizon Russell Investments Global is expected to generate 0.06 times more return on investment than High Liner. However, Russell Investments Global is 16.4 times less risky than High Liner. It trades about -0.13 of its potential returns per unit of risk. High Liner Foods is currently generating about -0.01 per unit of risk. If you would invest 2,343 in Russell Investments Global on July 20, 2025 and sell it today you would lose (15.00) from holding Russell Investments Global or give up 0.64% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
Russell Investments Global vs. High Liner Foods
Performance |
| Timeline |
| Russell Investments |
| High Liner Foods |
Russell Investments and High Liner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Russell Investments and High Liner
The main advantage of trading using opposite Russell Investments and High Liner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Russell Investments position performs unexpectedly, High Liner can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in High Liner will offset losses from the drop in High Liner's long position.| Russell Investments vs. NVIDIA CDR | Russell Investments vs. Microsoft Corp CDR | Russell Investments vs. Apple Inc CDR | Russell Investments vs. Alphabet Inc CDR |
| High Liner vs. Leons Furniture Limited | High Liner vs. Autocanada | High Liner vs. Maple Leaf Foods | High Liner vs. Premium Brands Holdings |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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